GAIL (India) has drawn up a growth strategy which shall steer it to revenues of Rs 50,000 crore plus by 2011 from a revenue of Rs 16,047 crore in the year 2006-07. GAIL is moving ahead in a time bound manner to complete the 8 new gas pipelines in two phases, targeting 100% completion by 2011. These will form part of an integrated gas grid in the country. The new pipelines are expected to increase GAIL's natural gas transmission capacity to around 300 MMSCMD and almost double GAIL's existing trunk pipeline network to nearly 12,000 Km. GAIL has recently approached the Government with firm plans for granting approval to pursue city gas projects in 230 cities across the country. In the area of petrochemicals also, GAIL proposes to add significant capacities through new plants in partnership with public / private sector, both in India and abroad. One of these, the Brahmaputra cracker and polymer in Assam, has been formed as a subsidiary of GAIL with 70% equity stake. GAIL is also expanding the capacity of the Pata petrochemical plant to 410,000 TPA from the present 310,000 TPA.Further, the company has announced that predictive, preventive rather than punitive vigilance was the theme that emerged at the launch of vigilance awareness week at GAIL today.
The company made this announcement during the trading hours today, 13 November 2007.
Powered byCapital Market - Live News